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April 12, 2024

Grow your money: Check out Landbank’s ‘green’ time deposit product

The Land Bank of the Philippines is offering a new time deposit product to support its green financing portfolio.

Called the GreenGrowth Deposit, the state-run lender is paying at least 2.25% interest rate per annum on time deposits worth at least P50,000 locked in for a one-year term. Deposits locked in worth P5 million or higher will be rewarded with a 4.25% interest.

These time deposits will support lending for sustainable projects such as renewable energy projects and green technologies.

“The LANDBANK GreenGrowth Deposit reflects our dedication to creating a greener and more sustainable future, while encouraging customers to be part of this transformative journey,” the bank’s president and CEO Lynette Ortiz said in a statement.